Bank of Japan Governor Kuroda
- See no need to review BOJ's ETF buying
- BOJ may review ETF purchases in future but for now, it is buying ETF as part of a package of steps to achieve 2 pct inflation
- BOJ's pledge to buy roughly 6 trln yen of ETFs annually doesn't have a set calendar start, end date
- BOJ will guide its ETF buying appropriately with eye on how it is affecting risk premium
- BOJ's ETF buying doesn't aim at pushing up stock prices, target specific stock level
- It is true bond market volatility has become very low in Japan but volatility is also low in Europe, where ECB has taken non-orthodox monetary policy
- BOJ is exchanging views with ECB to ensure central banks can deal appropriately if low volatility destabilises markets
- BOJ will obviously debate exit strategy from easy policy once 2 pct inflation is achieved
BOJ and ECB exchanging views:
I know, I know, those guys telling us the stock market is going to crash for years now, right?
more to come